From The Times of India:
Faced with a glut of foreign capital and massive trade balance, China has now begun either to restrict market access to foreign companies or create new hurdles for those that have already entered the field. This is evident from several recent measures including the latest move to restrict the entry of foreign insurance companies.
Doors to Chinese insurance market would be open only to foreign companies with assets worth $2 billion or more, the government has said. Foreign investors should retain their shareholdings for at least three years, and “abide by the principles of holding stakes for the long-term, improving management, of business cooperation and avoiding competition,” the China Insurance Regulatory Commission said while issuing a set of draft rules. [Full Text]